Midterm Examination; Part: B (45 Minutes)
Instruction
Answer question #01 or question #02 (Time: 45 Minutes)
Question 01:
Following transactions took place in Zamir’s Tour & travelling’s limited in June 2020
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June 01: |
Mr. Zamir started the business with Cash 50,000 and equipment of Tk 35,000 |
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June 03: |
Borrowed Tk. 20,000 from Sonali Bank on a note payble |
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June 05: |
Purchased Supplies for cash BDT 1000 |
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June 06: |
Rent expenses and utility expenses paid for the month BDT 6,000 and 16,000 respectively |
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June 07: |
Salary expense of the employees paid Tk. 9,000 |
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June 07: |
Tour services performed of BDT 27,000 of which one third has been received and rest on account |
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June: 10 |
Advertising expense occurred BDT 4000 which has been paid to Daily Star |
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June 12 |
Guide Services completed and received cash BDT 19,000 |
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June 15: |
Paid Tk. 11,000 for an one year accidental insurance policy |
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June 15 |
Owner withdrew cash 3000 for personal use |
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June 17 |
Collected cash 2000 from accounts receivable |
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Instruction: (a) Journalize the transactions (b) Prepare Ledger for (i) Cash and (ii) A/c receivables (7+3=10) |
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Question 02:
Following transactions took place in Nasir’s textile mills limited in June 2020
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June 01: |
Mr. Nasir started the business with Cash 50,000 and equipment of Tk 35,000 |
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June 03: |
Borrowed Tk. 20,000 from Sonali Bank on a note payble |
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June 05: |
Purchased Supplies for cash BDT 1000 |
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June 06: |
Rent expenses and utility expenses paid for the month BDT 6,000 and 16,000 respectively |
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June 07: |
Salary expense of the employees paid Tk. 9,000 |
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June 07: |
Guest Services performed of BDT 27,000 of which one third has been received and rest on account |
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June: 10 |
Advertising expense occurred BDT 4000 which has been paid to Daily Star |
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June 12 |
Guide Services completed and received cash BDT 19,000 |
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June 15: |
Paid Tk. 11,000 for an one accidental year insurance policy |
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June 15 |
Owner withdrew cash 3000 for personal use |
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June 17 |
Collected cash 2000 from accounts receivable |
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Instruction: (a) Prepare a tabular analysis of the transactions (b) Prepare an Income Statement for the month of June 2020(7+3=10). |
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Time limit: 45 mins
Grading method: Highest grade